US stocks rally on strong jobs data

New York, July 9 (IANS) US stocks traded higher in the morning session on Friday, as the newly-released nonfarm report far exceeded market expectations.

The Dow Jones Industrial Average was up 197.13 points, or 1.10 per cent, to 18,093.01, Xinhua news agency reported.

The S&P 500 rose 26.46 points, or 1.26 per cent, to 2,124.36. The Nasdaq Composite Index gained 68.94 points, or 1.41 per cent, to 4,945.75.

Total nonfarm payroll employment increased by 287,000 in June, versus 175,000 estimated by analysts, and the unemployment rate rose to 4.9 percent, the US Labor Department reported on Friday.

US stocks closed mixed on Thursday, as investors digested a batch of jobs data and awaited a key nonfarm report.

–IANS

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